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Milan prosecutors could broaden Parmalat inquiry

Milan prosecutors are considering adding insider trading to the list of alleged crimes that led to the collapse of Parmalat, said a person involved in the investigation, and are evaluating whether to name auditors from Deloitte & Touche as subjects of their inquiry into auditing irregularities at the dairy conglomerate.

Prosecutors in Parma, Italy, now believe Parmalat founder Calisto Tanzi may have funneled as much as â‚¬1.5bn ($1.9bn) of the group's money into Parmatour, one of his family-owned companies, according to another person involved in the investigation. That figure would be three times the â‚¬500m Tanzi acknowledged was funneled from the Parmalat dairy group into the tourism company managed by his daughter.

Germany's Deutsche Bank was brought into the fray of the Parma prosecutors' widening probe, with bank officials meeting Wednesday with investigators to discuss, among other things, the bank's â‚¬350m bond issue for Parmalat in September. German regulators said they were looking into the possible effects of Parmalat's woes on German companies.